VSCO - Did Bath & Body Works Doom Itself By Spinning Off Victoria's Secret?
After stirring up a lather with its spin-off of Victoria's Secret (NYSE: VSCO) and its retirement of its former "L Brands" name, Bath & Body Works (NYSE: BBWI) (NYSE: LB) saw its stock price go down the drain. Wall Street analysts piled on with lowered per-share price targets, in one case slashing a forecast from $95 to $78, with others predicting more modest reductions.
The company's share price plunged from over $80 to below $62, an approximate 22.9% drop. Inexperienced investors might think this heralds bad times for the company, but there are at least three reasons to be bullish about the changes being made at the company.
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Did Bath & Body Works Doom Itself By Spinning Off Victoria's Secret?